Fire Losses and Overinsurance

Issue 3 and Volume 73.

Fire Losses and Overinsurance An interesting reason for the ever-increasing fire losses is given by State Fire Marshal John G. Gamber if Illinois in a letter to FIRE AND WATER ENGINEERING, published in this week’s issue. Mr. Gamber attributes a great part of these losses to overinsurance and suggests that the insurance companies and their agents should reform the methods of underwriting so as to put a stop to the practice. No one is better qualified to speak authoritatively on this subject than is the state fire marshal. His work is intimately connected with running to earth just the class of criminals which take advantage of the laxity of the insurance companies and the greediness of their agents in allowing these individuals to overinsure their property to many times its value. But the one most vitally interested in the matter is the fire chief. Upon him and his men falls…

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